New England venture capitalist invested in home building and telecommunications during the second quarter. Typically, these two sectors did not draw the attention of venture capitalists.
The largest deals in the period came from two companies in these sectors. Acton-based Affirmed Networks Inc., a mobile networking company, got around US$48 million. Similarly, a Waltham-based green home building firm, Blu Homes Inc., also got US$48 million.
There was a total of US$823 million in venture funding during the period. This was an increase of 17%, according to MoneyTree Report. In addition, there were 100 investments in New England firms this quarter compared to 89 of the previous quarter. However, this figure decreased 5% if compared to the same quarter of 2012. The report was created based on data from Reuters by PricewaterhouseCoopers and the National Venture Capital Association.
"The increase in early-stage investing is an encouraging sign that entrepreneurs with innovative ideas can get the funding they need to succeed," said Mark McCaffrey of PricewaterhouseCoopers in a statement. McCaffrey was a global technology partner at the company.
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